Reports Q1 revenue $203M, consensus $189.21M. “We delivered a solid performance in the first quarter of 2024,” said Haijun Wang, Founder, Chairman and CEO of Atour. “We maintained our rapid pace in hotel openings to close the quarter with a total of 1,302 hotels in operation, a year-over-year increase of 34.5%. We also maintained a healthy RevPAR during the quarter. Furthermore, our retail business continued to thrive, with quarterly GMV soaring by 277.4% year-over-year to RMB495 million. We will remain dedicated to deepening our insights into customers’ needs and crafting distinctive products and services, thus elevating the ‘Chinese experience’ while creating a virtuous cycle and achieving greater synergies between the accommodation and retail businesses. Meanwhile, we have proudly published our 2023 Environmental, Social and Governance report in May. Looking ahead, we will holistically strengthen our commitment to ESG, augmenting our contributions to society and the industry’s sustainable development,” concluded Wang.
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